Pompey have new owners as Al Faraj takes control
By Site reporters
Monday 05 Oct 2009 22:53:00
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Portsmouth Football Club has a new owners, with a consortium led by Saudi property developer Ali Al Faraj set to buy a controlling 90% stake in the club from Sulaiman Al Fahim.

Al Fahim will retain a ten per cent stake in the club and will retain the role of Chairman for at least the next two years.

The deal has been hammered out in London on Monday and the legal papers have been signed, with an announcement set to be made late on Monday or Tuesday morning.

Former owner Alexandre Gaydamak was also represented at the talks and has given his blessing to the deal, which as a result will see tracts of land surrounding Fratton Park be made available for the club to develop. Article continues here


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It is understood redeveloping Fratton Park is seen as the best option in the short term to enable the club to expand its capacity, although a longer-term move to a new stadium at Horsea Island, possibly as part of an England World Cup stadium bid, is still on the agenda.

Little is known about Al Faraj, but it is thought he is leading a consortium which will assume control of the club this week. He is expected to join the board of directors at once.

Al Faraj has also already passed the Premier League's 'fit and proper person' test, having taken it back in August when his original bid to buy the club was rejected by Gaydamak, who sold to Al Fahim instead.

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